Short covering may be seen in Lupin and Dr Reddys, says Amit Gupta, ICICI Direct.
Gupta told CNBC-TV18, “We should look at certain socks which can see some short covering and to identify that we should look at the rollovers. The rollovers have been low in the pharma space where Lupin and Dr. Reddys, we had seen they had some short build coming up and the positions are not getting rolled. So, it is possible that you can see some kind of short covering in these two segments.”
On Jan 31, Lupin closed at Rs 604.45, up Rs 5.20, or 0.87%. It has touched an intraday high of Rs 618.25 and an intraday low of Rs 599.15.